Out of the Blue

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38 Replies. 2 pages. Viewing page 2.
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18.
 
Re: Out of the Blue
Feb 24, 2021, 16:40
18.
Re: Out of the Blue Feb 24, 2021, 16:40
Feb 24, 2021, 16:40
 
Cutter wrote on Feb 24, 2021, 12:45:
I don't mind donating annually, Blue, but you're going to have to provide alternative payment methods because I will never use fucking Paypal again - and no one else should either. Fuck that company!

What is an alternative that you find more acceptable?
Stephen "Blue" Heaslip
Blue's News Publisher, Editor-in-Chief, El Presidente for Life
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17.
 
Re: Out of the Blue
Feb 24, 2021, 15:41
Verno
 
17.
Re: Out of the Blue Feb 24, 2021, 15:41
Feb 24, 2021, 15:41
 Verno
 
DNForever wrote on Feb 24, 2021, 15:02:
I bought my house in 2010 and right after that, the area started getting hot (very urban/walkable area.) But now, it's just silly. It's a small house and we're ready to get some more space and not have so many neighbors around.

Yeah we're kinda done with neighbors, even when you get a good one they rarely last and then you're left with dipsticks next door. We are buying a big lot outside of Erie PA once the dust settles on COVID, perfect driving distance to visit family in Canada and check up on our rental there. I am going to offer to sell our other rental in California to the tenant for a fair price but if he balks then it'll be market value to the highest bidder. I plan to also buy a few pieces of land around us in Erie so that the town can't just dump a condo next door without a fight. I've seen that happen too many times up here in Canada, they are throwing up density like crazy due to legislation and affordability issues with single family detached homes. Even a lot of the rural areas now outside of the suburbs are seeing it happen.

Anyways go get your space while you can, don't wait too long man.
Playing: Xenoblade Chronicles DE, Ys IX, God of War
Watching: Lupin, You me and the Apocalypse, Days of Thunder
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16.
 
Re: Out of the Blue
Feb 24, 2021, 15:40
Jivaro
 
16.
Re: Out of the Blue Feb 24, 2021, 15:40
Feb 24, 2021, 15:40
 Jivaro
 
There is a good point in BoP's story that I forgot to mention in mine. We also bought it as is. The things they were going to need to fix were things we wanted to have control over, so we were completely cool with that.
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15.
 
Re: Out of the Blue
Feb 24, 2021, 15:22
15.
Re: Out of the Blue Feb 24, 2021, 15:22
Feb 24, 2021, 15:22
 
Mr. Tact wrote on Feb 24, 2021, 12:39:
BoP's story surprises me more than yours Beamer.

You nailed it yourself. Location. Where I live now is a bedroom-ish community to Austin but far enough out that "average" people with service-based jobs could afford to own a home and raise a family. When the pandemic hit and all those service based jobs were dumped after 4 months in, lots of realtor signs started showing up everywhere as these people could no longer afford mortgages. Add to that, people who want an urban environment consider this area too far out in to the sticks to be worth looking at so there wasn't a lot of inventory churn. This caused the market values to drop as people started trying to get out at fire sale prices. This house, in particular, was like winning the lottery. The seller wanted to get out at what he owed the bank. His wife was in memory care and he could no longer upkeep the property by himself as he was an elderly gentleman. We made him a sweetheart deal: we'll pay his asking price in cash with no points and no allowances. House purchased as is, no negotiation.

He took it and we got a great deal. Perfect storm of taking advantage of someone else's disadvantage.
"No matter where you go, there you are." Buckaroo Banzai

There are two types of computer users: Masochists and Linux users.

If you would like help or further details on a technical discussion we're having, email me at bnhelp (at sign) keepusiel.net .
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14.
 
Re: Out of the Blue
Feb 24, 2021, 15:19
14.
Re: Out of the Blue Feb 24, 2021, 15:19
Feb 24, 2021, 15:19
 
We didn't get hit too bad by last week's winter storm, but my electric co. left me without power for 5 nights They restored the power to my neighborhood less than 48 hours after the storm, except for my street. The automated reporting system kept insisting my power was on. I reported it being out after it sent a text saying it had been restored, and a few hours later it sent me a text saying it was restored again. Even their online outage map showed my street without power FFS. There was no way to get an actual human on their customer service number. I just had to keep reporting it out over and over on the automated system.

Finally a truck showed up Monday afternoon, stopped down the street by a utility pole. A guy climbed into the bucket lift, then it looked like he poked a transformer a stick and the electricity came on. I'm pretty damn pissed about it. I think when they restored the power to the neighborhood, they didn't verify that all the transformers were back on before leaving. I think they noticed the mistake Sunday afternoon and waited another day to come fix it. I was sitting outside that day because it was warmer outside than inside The insulation was doing a fine job of keeping the cold in. While sitting outside, two different trucks came by at different times in the day. They would stop at each utility pole and a guy would get out and look up at the transformer. The one that they eventually poked, when they got to it, the guy stayed there looking at it longer than the rest before leaving.

After 5 nights of having to stay bundled up in the bed to stay warm, I eventually couldn't sleep anymore, I didn't sleep at all Sunday night and only got up after 12 hours because I was hungry. Even now that the power is back on, I get tired, but I dread going to bed and put it off until I just can't stay awake any longer. I'm pretty much just writing this to avoid going to bed even though I've been up almost 24 hours.
"The only way anyone can live in peace is if they're prepared to forgive." - The Doctor
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13.
 
Re: Out of the Blue
Feb 24, 2021, 15:03
13.
Re: Out of the Blue Feb 24, 2021, 15:03
Feb 24, 2021, 15:03
 
Similar story for my sister in Phoenix, her home value has doubled in under five years.
“Extinction is the rule. Survival is the exception.” -- Carl Sagan
12.
 
Re: Out of the Blue
Feb 24, 2021, 15:02
12.
Re: Out of the Blue Feb 24, 2021, 15:02
Feb 24, 2021, 15:02
 
Beamer.. I'm sure if you're able to put in those kind of bids, you'll eventually get something. Like getting a "good job", owning a home is one of those things we're told to do in overt & subtle ways our whole lives, and then when the time comes and it's not possible, you feel angry, cheated, impatient.
I bought my house in 2010 and right after that, the area started getting hot (very urban/walkable area.) But now, it's just silly. It's a small house and we're ready to get some more space and not have so many neighbors around. Even though we could probably sell for good money, everything else has gone way up especially bigger places with yards. So while it's good that I won't have to get this place in "HGTV" condition to sell, I also think I'll wait until the pandemic is mostly over (if that ever even happens at this point) and hopefully the market calms down. I tell this story because I think part of why prices are so high is that even though the market seems crazy, I would think not a lot of people are selling - who wants to be moving now unless you really have to? But have no numbers etc. to back that up. Good luck to all out there.
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11.
 
Re: Out of the Blue
Feb 24, 2021, 14:58
Jivaro
 
11.
Re: Out of the Blue Feb 24, 2021, 14:58
Feb 24, 2021, 14:58
 Jivaro
 
Beamer wrote on Feb 24, 2021, 12:16:
Is anyone else house hunting right now?

It's absolutely insane. [snipped for convenience]
This is lunacy.

So my wife and I are in a good spot over here in California. When we bought our house 5 years ago or so it was 350k. Today, the lowball is 650k with minor updates like flooring, painting, bathroom updating, and etc. The realtors literally call/email/snail mail us on the daily. My wife retires in 3 years so our plan was to wait because we plan on moving from the SF/OAK area to the central california coastal area (like a bit south of Monterey), which is closer to my aging boomer parents. We now have started to discuss if that is really the smartest thing to do. 3 years from now there is no guarantee that the market will be like it is now. It would be a pain to uproot this second....but the math makes it seem like it's a no-brainer. Meanwhile, all of it seems completely insane to us. We knew the house would gain some value...but nearly double in 5 years....I wish I could claim I planned that. The market is nuts.

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10.
 
Re: Out of the Blue
Feb 24, 2021, 13:58
Verno
 
10.
Re: Out of the Blue Feb 24, 2021, 13:58
Feb 24, 2021, 13:58
 Verno
 
Bond markets are pricing in rate increases which will help drive prices down, depending on how the stimulus package impacts inflation. Equity rich boomers keep getting richer and voting in more measures to keep the party going unfortunately and the constant influx of foreign money into real estate markets hasn't helped either. I am grateful that my parents hammered home the advice to buy property cheap and "get on the ladder" in my mid-20s. I have several friends who are basically priced out of the market unless they uproot entirely.
Playing: Xenoblade Chronicles DE, Ys IX, God of War
Watching: Lupin, You me and the Apocalypse, Days of Thunder
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9.
 
Re: Out of the Blue
Feb 24, 2021, 13:20
9.
Re: Out of the Blue Feb 24, 2021, 13:20
Feb 24, 2021, 13:20
 
PHJF wrote on Feb 24, 2021, 13:18:
Not only that, but lumber prices are more than doubled over a year ago (almost tripled).

So once again, renters are fucked and home ownership becomes even less of "The American Dream" and more of "The American Pipe Dream".
Unless you already owned one, then you are sitting pretty as the valuations go up (although, less so for some like me in less hot markets).
“Extinction is the rule. Survival is the exception.” -- Carl Sagan
8.
 
Re: Out of the Blue
Feb 24, 2021, 13:18
PHJF
 
8.
Re: Out of the Blue Feb 24, 2021, 13:18
Feb 24, 2021, 13:18
 PHJF
 
Not only that, but lumber prices are more than doubled over a year ago (almost tripled).

So once again, renters are fucked and home ownership becomes even less of "The American Dream" and more of "The American Pipe Dream".
Steam + PSN: PHJF
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7.
 
Re: Out of the Blue
Feb 24, 2021, 12:58
7.
Re: Out of the Blue Feb 24, 2021, 12:58
Feb 24, 2021, 12:58
 
Thanks to Blue and everyone. I've been a reader of the site since early days, but I didn't participate in the forums until this past year. Nice group of people here.
- You may be a Republican, I'm a Democrat, but we can still be friends. I'll hug your elephant, and you can kiss my ass.
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6.
 
Re: Out of the Blue
Feb 24, 2021, 12:47
El Pit
 
6.
Re: Out of the Blue Feb 24, 2021, 12:47
Feb 24, 2021, 12:47
 El Pit
 
Thanks to Blue, Frans, Walter, and all the other working on the site and contributing news. You guys rule! And here's to another 25 years (at least)!
"There is no right life in the wrong one." (Theodor W. Adorno, philosopher)
"Only a Sith deals in absolutes." (Obi-Wan Kenobi, Jedi)
5.
 
Re: Out of the Blue
Feb 24, 2021, 12:45
5.
Re: Out of the Blue Feb 24, 2021, 12:45
Feb 24, 2021, 12:45
 
I don't mind donating annually, Blue, but you're going to have to provide alternative payment methods because I will never use fucking Paypal again - and no one else should either. Fuck that company!
"You have enemies? Good. That means you’ve stood up for something, sometime in your life."
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4.
 
Re: Out of the Blue
Feb 24, 2021, 12:39
4.
Re: Out of the Blue Feb 24, 2021, 12:39
Feb 24, 2021, 12:39
 
BoP's story surprises me more than yours Beamer. One of the big side stories of the pandemic has been the super hot housing market. People who suddenly were spending all their time at home realized they wanted/needed more space. But as always in real estate it is about three things, location, location, location. I live in a university town, so the market has a constant year to year turnover as people either start up at the university or leave for another one. I haven't looked closely, but the brief looks around I have taken lead me to believe the market here hasn't seen the sharp upturn many other areas have seen.
“Extinction is the rule. Survival is the exception.” -- Carl Sagan
3.
 
Re: Out of the Blue
Feb 24, 2021, 12:29
3.
Re: Out of the Blue Feb 24, 2021, 12:29
Feb 24, 2021, 12:29
 
Beamer wrote on Feb 24, 2021, 12:16:
Is anyone else house hunting right now?

Did that last year when people were starting to panic after losing their jobs due to the pandemic. The market here had the floor drop out and we picked up our almost move-in ready home for significantly less than the pre-pandemic value it held. This allowed us to do the modifications we wanted and still remain under our initial budget.

Always look for times and signs of hardship then be ready to strike. Of course, area desirability and available inventory are huge factors as well.
"No matter where you go, there you are." Buckaroo Banzai

There are two types of computer users: Masochists and Linux users.

If you would like help or further details on a technical discussion we're having, email me at bnhelp (at sign) keepusiel.net .
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2.
 
Re: Out of the Blue
Feb 24, 2021, 12:16
2.
Re: Out of the Blue Feb 24, 2021, 12:16
Feb 24, 2021, 12:16
 
Is anyone else house hunting right now?

It's absolutely insane. My lease runs out next month, and after almost a full year of two people living in a 1 bedroom, often not leaving for 6 days at a time, and with me generally sitting in a seat at 9:15am and only getting up two or three times between then and 6pm, I'm dying for room.

But man. First house we wanted actually was under contract in September and finally closed in January. It went back up a week later, with a story for why. It went back up $70k over what it sold for last time (though it did have a new septic and a generator installed just prior to the previous closing, with it being unclear who paid for it.) We big another $50k over that, and won, but backed out during attorney review. The open house was 15 minutes, and we felt we could do the major renovations needed, and put in a pool for one number, but after seeing it longer than 15 minutes it was clear it would take 2x that.

The next week, another house went up. Literally the house next door. This one was move-in ready, outside of lacking a pool. We bid $70k over asking. We were the 4th highest bid.

Last weekend, another one went up. This time, another move-in ready house, but significantly smaller, on a third the land, in a less nice town. We figured we would make it a five year house. We bid $60k over asking. Once again, we were the 4th highest. This would now be the most expensive home in that town, despite not being the nicest, or the largest, or the best located.

In 2 of these 3, we were asked to waive the appraisal contingency, because the agents priced it as high as they felt an appraisal would come in. We went as high as we felt was even remotely sensible, but still knowing it was a major overpay. One home that we'd considered, but not bid on, ended up going for $200k over asking.

Essentially, everything decent goes up on Thursday, has an open house on Sunday, and the decision is made on Tuesday. The open houses have lines out the door and hour waits. Huge percentages of the property was last renovated in the 80s or 90s and needs major updating, but isn't priced taking this into account. If the bones of the house are good, the house will sell only marginally less than a move-in ready home (of which there are few.) Only the absolute junkers aren't under contract in a week, the ones that no amount of money can fix.

This is lunacy.
1.
 
Re: Out of the Blue
Feb 24, 2021, 12:06
IVIX1
 
1.
Re: Out of the Blue Feb 24, 2021, 12:06
Feb 24, 2021, 12:06
 IVIX1
 
Thanks again for the news @ Blues News Team!
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